HitBTC Exchange Review 2023 Is It Safe or Scam?

HitBTC Review

While having more options is a good thing, you might also encounter some issues when choosing a cryptocurrency trading platform for your needs. The HitBTC core matching engine (the mechanism that executes transactions) is lightning fast, extremely liquid, HitBTC Review and supports a slew of cryptocurrencies with a highly advanced dashboard. HitBTC team members have designed the HitBTC platform with diverse types of users in mind, with various accounts for them to choose from based on their trading style.

However, what you should know is that the higher amounts you trade, the lower your fees will be. You can choose from more than 380 cryptocurrencies and over 800 crypto pairs. That being said, even if you’re a fan of less popular coins, the chances of finding them on HitBTC are truly high. HitBTC allows you to trade the most popular cryptocurrencies and widespread fiat currencies, including USD and EUR. The main company’s goal is to introduce crypto traders to the most advanced technologies. People in their groups are very complaining and threatening people who tell the truth.

HitBTC Fees

Unverified users pay a maker fee of 0.1% and a taker fee of 0.2%. Meanwhile, verified users fall under HitBTC’s tier fee structure, which determines trading fees depending on the user’s trading volume over the last 30 days. For issues that require users to email the support team, there have been complaints online about very slow response time (taking weeks and even months before an issue is resolved). Most common problems people have complained about are withdrawal delays and inexplicable loss of funds.

  • With a demo account, users can trade without fear of losing tangible assets.
  • HitBTC is one of the popular European bitcoin exchange platforms that was founded back in 2013 and started with a 6 million USD Venture Capital investment.
  • The reason for this is that it still remains to be seen where the company is actually based.
  • HitBTC is also one of the few exchanges to provide trading bots with a range of APIs to help advanced traders trade automatically.
  • This review of Bittrex vs. HitBTC will help you decide for yourself.
  • All you need to do is navigate to the “Account” tab and select the cryptocurrency of your choice.

Supported currencies are BTC, ETH, TRX, BCH, ADA, DOT, SOL, EOS, AAVE, MATIC, XLM, UNI, LTC, and HIT. Reading through various best crypto exchange reviews online, you’re bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn’t encounter any difficulties with either of the top-rated exchanges.

HitBTC and the US Traders

CFDs work in a similar fashion to futures contracts that you have on platforms such as Bitmex and the like. They are also margin instruments which means you must tread with caution as you can very quickly get liquidated and margin called. You can also use the MetaQuotes coding language to develop your own trading bots.

  • There is no option to deposit fiat money on HitBTC, however, registered users can buy cryptocurrencies on the platform.
  • You can also visit the “Reports” page, and click on ‘my orders’.
  • OTC (or over-the-counter) trading is a service allowing to trade apart from the public order book.
  • Our detailed price comparisons and cryptocurrency guides have you covered.
  • That said, many users believe that KuCoin is one of the simpler exchanges on the current market.
  • However, the exchange lacks transparency when it comes to its team and location, which is a major red flag for some.
  • Once you’ve found your coin, click on the blue ‘+’ button underneath the deposit column.

In a nutshell, regardless of how much you trade, you will always pay 0.01% in trading fees. For example, if you bought $5,000 worth of crypto, and then sold the same $5,000 worth of crypto, you would pay two lots of $5. Hitbtc is one of the oldest and fastest-growing cryptocurrency exchanges in the world. It was founded in 2013 by the Ullus Corporation in Hongkong.

HitBTC Exchange Review – Fees, Pros, Cons and Features

As a result, the platform now has over $300m in trading volume. HitBTC has teamed up with Weltrade to offer cryptocurrency traders an alternative https://www.tokenexus.com/ to the HitBTC web platform. You would have to sign up and create a new account with Weltrade in order to start trading with the MT4 software.

HitBTC Review

HitBTC takes first place in the global cryptocurrency market in terms of liquidity (according to CoinMarketCap). The exchange was leaving a gray area at that time and didn’t meet multiple strict requirements of US law in the sphere of cryptocurrencies. So, beginning with 2019 the residents of any of the states of the United States of America are not allowed to trade on HitBTC.

As a precaution, users can choose how long their account should remain active before automatically logging them out (30miutes, 1 hour, 8 hours, 1-7 days, or never). On the top right-hand side of their home will be the “Sign up” button. Although the HitBTC support team operates 24 hours per day, the only contact channel available is the online support form. Therefore, if you prefer the likes of live chat or telephone support, you’re out of luck. Next, you will need to enter your email address, and then choose a very strong password. Click on the ‘Sign Up’ button to move onto the next stage.

HitBTC Review

In most cases, it’s recommended to watch some tutorials or simply start trading small amounts that you wouldn’t be afraid of losing. However, when it comes to HitBTC, you can have a full experience without the need to risk anything. I bet that the majority of you were looking for a HitBTC exchange review because you wanted to make sure that this platform is legit and suitable for trading.

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